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April 19, 2023EUR/GBP crashes after losing 20 pips, breaking down to 0.8808.
While price action maintains a negative bias, Euro Zone Consumer Price Index came out at 6.9%, while a consensus of analysts was expecting 6.9%. Germany ZEW Economic Sentiment Index released yesterday at 09:00 UTC with a figure of 4.1, while the previous figure was 13. United Kingdom Claimant Count Change (Mar) released yesterday at 06:00 UTC with a figure of 28,200, while the previous figure was -18,800.
Positive performances can be seen by looking at other currencies as USD/JPY added 0.55% to its value, now trading at 134.81. GBP/JPY rallies 0.64% to trade around 167.66. Having closed the previous session at 1.6638, GBP/CAD is up 0.59% today to currently trade at around 1.6736.
Furthermore, Euro Zone ECB Publishes Account of Monetary Policy Meeting is expected tomorrow at 11:30 UTC. As things stand, upcoming Germany Producer Price Index data is projected to fall short of market expectations with newly published data of -0.5%, following on from the preceding figure of -0.3%. New data is set to be published tomorrow at 06:00 UTC. Euro Zone ECB's Schnabel speech set for tomorrow at 20:15 UTC.
Trading mostly sideways for 2 months. After setting a supportive marker at 0.7134 around 10 months ago, Euro-Pound is now trading 23.75% higher.
